(MENAFN- QNA) Japan's Prime Minister Shinzo Abe says he will carefully examine the country's economic condition before deciding whether to raise the consumption tax again.
Abe spoke at a meeting of the government's Council on Economic and Fiscal Policy. It was the first time the council met since Abe reshuffled his Cabinet earlier this month, according to Japan's (NHK WORLD) website.
He is expected to decide by the end of the year whether to raise the tax from the current eight percent to ten percent in October next year.
Japan's Prime Minister told the meeting that his decision depends on whether the country's economy started growing again in the July-September quarter.
He said even if it's led by seasonal factors like the weather, a rise in private-sector demand could be stalled by weakening consumer sentiment. Abe noted the negative factors of rising gasoline and electricity prices.
Abe also said if private businesses enjoying better earnings increase their workers' wages, the recovery can be maintained.
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